Pkg Acc Infor Systems MS VISIO CD
10th Edition
ISBN: 9781133935940
Author: Ulric J. Gelinas
Publisher: CENGAGE L
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Chapter 14, Problem 5SP
Summary Introduction
To match: The control goals or process deficiencies with the control plans.
Human resource (HR) management and Payroll process:
Human resource management is about the basic human management functions in an organization and its associated activities. It also speaks about the relationship between human resource management activities and the payroll process. It also depicts the importance of HR activities in the decision making of the top management.
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Which control activity is the entity implementing when at the end of each month, an HR clerk is reviewing the employees hours for payroll calculation ? Select one:
a Independent checks on performance
b. Adequate separation of duties c. Physical control over assets and records
d. Adequate documents and records
Match the four functions of payroll activities with their related internal controls:
a.
An independent employee should sign and distribute the prenumbered checks.
select a function Hiring EmployeesPaying the PayrollPreparing the PayrollTimekeeping
b.
Supervisors should monitor hours worked through time reports.
select a function Hiring EmployeesPaying the PayrollPreparing the PayrollTimekeeping
c.
Human Resources department should authorize employment.
select a function Hiring EmployeesPaying the PayrollPreparing the PayrollTimekeeping
d.
Two or more employees should verify payroll amounts.
select a function
Payroll: Risks and Controls
Below are some of the processes that are typically executed before, during, and after a payroll cycle:
Employees record their hours worked.
The supervisor reviews and approves each employee's time records with their signature.
An officer from the Human Resources department updates employee files after receiving authorized records of overtime and leaves (vacations, illness, etc.) from the supervisor. Afterward, approved records are sent to the payroll officer in the accounting department.
The payroll officer calculates the gross payment, applies deductions, and calculates the net payment. Subsequently, the final payroll is sent for the controller's approval.
Payments are issued to employees using their preferred delivery method (check or direct deposit).
Entries are generated for the corresponding payroll transactions.
Withholdings for payroll taxes, Social Security, and Medicare are respectively remitted to the Department of Treasury and the Internal…
Chapter 14 Solutions
Pkg Acc Infor Systems MS VISIO CD
Ch. 14 - What is human capital management (HCM)?Ch. 14 - What does human capital include?Ch. 14 - What is the human resources management process?...Ch. 14 - Prob. 4RQCh. 14 - Prob. 5RQCh. 14 - What role does each HR manager listed in Figure...Ch. 14 - What key decisions do the HR managers shown in...Ch. 14 - Prob. 8RQCh. 14 - Prob. 9RQCh. 14 - Prob. 10RQ
Ch. 14 - Prob. 11RQCh. 14 - Prob. 12RQCh. 14 - Prob. 13RQCh. 14 - Prob. 14RQCh. 14 - Prob. 15RQCh. 14 - Prob. 16RQCh. 14 - Prob. 17RQCh. 14 - Discuss the significance of having a separate...Ch. 14 - Examine the placement of the manager of HR systems...Ch. 14 - Prob. 3DQCh. 14 - Discuss the role unions and government agencies...Ch. 14 - Prob. 5DQCh. 14 - Prob. 6DQCh. 14 - Prob. 7DQCh. 14 - In this chapter, we stated that many organizations...Ch. 14 - Prob. 3SPCh. 14 - Prob. 4SPCh. 14 - Prob. 5SPCh. 14 - Prob. 6SPCh. 14 - Prob. 6PCh. 14 - Prob. 7P
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